Calgary new home prices rising fastest in country

Buyers looking for newly-built home in Calgary are facing a significantly more expensive market than they were a year ago, says Statistics Canada.

Read: Canada’s homes too expensive

The average price of a new home built in that city has gone up 6.3% between September 2012 and September of this year. It’s the biggest increase nation-wide.

In Toronto and Oshawa, new home prices rose 1.7$ in that time. Winnipeg, Man. saw a 4.6% increase, while St. Catharines–Niagara, Ont. rose 3.2% and Regina, Sask, went up +2.6%.

Read: When non-residents own real estate

Some areas experienced a small drop in prices, including Vancouver, which was down by 1.2%, and Victoria, B.C, down by 0.6%. Prices in those parts of B.C. have been declining since early 2011.

The average home price in Canada rose 1.6%. It’s the smallest increase since February 2010. National home prices have been increasing more slowly since late last-year, StatsCan says.

Read: Home sales up last month

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.